Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-10-27)

If the market continues to move forward, the mid-line should be closed for profit
1. Market Trends <br/>Today is October 27, 2016. The current price is 4,700 yuan. The current rise started from the sideways trading of 3,800 in early September and has lasted for nearly two months. In the past three weeks, the average weekly increase was 4%, with a cumulative increase of 500 yuan, about 15%. The upper track position of the weekly Bollinger Band is at 4,800, and it is expected to rise further.
The rise of Bitcoin to a three-month high has attracted some outside media to follow up on the report. For example, Toutiao pushed the Business Weekly article "The RMB continues to depreciate and the price of Bitcoin rises to a three-month high". The search volume of Bitcoin on Baidu Encyclopedia has also increased in the past two days. The recent online and offline promotion of several domestic trading platforms may have played a certain role. Looking at the Baidu search index, the search volume of keywords on related platforms has increased significantly.
The range of 4500 to 4800 may need time to consolidate to further determine the larger trend. Mid-term long positions may partially take profits and wait and see, and short-term positions should pay attention to risks.
Looking at the data, the market is quite excited and continues to be bullish, and new entrants continue to hover at high levels. 2. The long-short index looks at the recognition of the value of Bitcoin outside the market . The figure shows the long-short index with a period of 1 hour.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.